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14Aug2017 Market Update: Wall Street Higher, DOW Up Triple Digits, Nasdaq Up 1.3 Percent, WTI Crude Waterfalls To The High 47 Handle, Analysts Are Clamoring For Investor Caution

Written by Gary

US stock markets have risen over one percent (SPY +1.02%) and have been trading sideways into the early afternoon session.


Here is the current market situation from CNN Money

North and South American markets are sharply higher today with shares in Brazil leading the region. The Bovespa is up 1.67% while Mexico's IPC is up 1.12% and U.S.'s S&P 500 is up 1.02%.

What Is Moving the Markets

Here are the headlines moving the markets.

Merck CEO resigns from Trump council over Charlottesville

(Reuters) - Merck & Co Inc Chief Executive Kenneth Frazier resigned from U.S. President Donald Trump's American Manufacturing Council on Monday, saying he was taking a stand against intolerance and extremism.

S&P, Nasdaq rise one percent as North Korea tensions wane

(Reuters) - The S&P 500 and the Nasdaq Composite rose more than 1 percent in late morning trading on Monday as investors returned to riskier assets after tensions in the Korean peninsula eased.

Snap shares bounce off record low in busy day for stock

NEW YORK (Reuters) - Snap Inc stock rebounded on Monday from a record low hit earlier in a choppy trading session as big investors report their latest stakes in the beleaguered social media company and as a wave of employees became eligible to sell their shares.

China a sweet spot for U.S. companies' earnings in second-quarter

SHANGHAI (Reuters) - Trade tensions between Washington and Beijing may be running high but Corporate America is finding China to be a reliable source of profit growth this year.

China's Guizhou province to oversee Apple's data project

SINGAPORE (Reuters) - China's Guizhou province, where Apple Inc has set up its first data center in the country, plans to create a working committee chaired by communist party members to oversee the U.S. company's iCloud facility.

Exclusive: Arab bloc won't discriminate against U.S. firms in Qatar rift - sources

DUBAI (Reuters) - Four Arab countries that imposed sanctions on Qatar have told the United States that U.S. companies doing business with them would not be punished for also working with Doha, four sources with knowledge of the matter said.

China's Fosun, Shanghai Pharma say bid for stake in U.S. drugmaker Arbor

HONG KONG (Reuters) - A unit of China's Fosun Group and Shanghai Pharmaceuticals Holding Co are among bidders for a stake in U.S. speciality drugmaker Arbor Pharmaceuticals LLC, the companies said on Monday.

Raytheon names former U.S. deputy defense secretary to board

(Reuters) - Tomahawk missile maker Raytheon Co on Monday named former U.S. Deputy Defense Secretary Robert Work as a director to its board.

Barclays closures add to toll of vanishing British bank branches

LONDON (Reuters) - Barclays plans to close around 54 branches by the end of the year in an effort to cut costs, further reducing access to banking services for customers in parts of Britain.

Turkey's Drive To Restore Ottoman Era Influence

Via Disobedient Media

After nearly a century of being relegated to a smaller regional power acting alongside the Israeli-Saudi nexus, Turkey's new leadership stands prepared to significantly increase its political power and prestige. Taking advantage of various conflicts around their borders, Turkey has embarked on a bit to expand their influence not just in the Middle East, but also on the borders of an increasingly volatile European Union. These actions, along with consolidation domestically and an increased focus on militarization mean that Turkey's profile stands a good chance of rising over the next decade.

I. Expansion In The Middle East

Turkey has taken an active role in Syrian territories which were historically part of the Ottoman Eyalet (Province) of ?am by deploying military assets which they claim are part of their efforts to help bring an end to the Syrian Civil War. However, Turkey's intervention came only after they used their control of Syria's northern border to fracture rebel groups who might have opposed them. Wikileaks' Berat's Box release has revealed that organizations tied to government officials such as Powertrans were directly implicated in the facilitation of ISIS oil imports. Leaked German government documents published by public broadcaster Arbeitsgemeinschaft der öffentlich-rechtlichen Rundfunkanstalten der Bundesrepublik Deutschland (ARD) also show that Turkey supported a number of other jihadist groups in Syria in addition to Palestine's Hamas and Egypt's Muslim Brotherhood. This strategy of supporting various jihadist groups in Syria created a rebel coalition that was prone to infighting, unable to e ...

Stock Market Warning Siren Is Blaring

Authored by Wolf Richter via WolfStreet.com,

Are we blinded yet by the brilliance of corporate earnings?

"Adjusted" earnings growth is 10.2% year-over-year in the second quarter, according to FactSet, based on the 91% of the companies in the S&P 500 that have reported results. The energy sector was a key driver, with 332% "adjusted" earnings growth from the oil-bust levels of a year ago.

The sectors with double-digit earnings growth: information technology (14.7%), utilities (10.8%), and financials (10.3%). The rest were single digit. Earnings in the consumer discretionary sector declined.

Revenues grew 5.1%, also led by the energy sector. At the beginning of Q2 last year, the WTI grade of crude oil traded at $35 a barrel. In Q2 this year, WTI ranged from $42 to $53 a barrel.

So the Wall-Street hype machine is cranking at maximum RPM to propagate the great news that earnings are soaring, and that this is the reason why stocks should also be soaring, and forget everything else. The hype machine carefully avoids showing the bigger picture which is dismal for earnings and ludicrous for stock valuations.

Aggregate earnings per share (EPS) for the S&P 500 companies on a trailing 12-months basis rose for the second quarter in a row.

That's the foundation of the Wall Street hype.

But here's the thing with these EPS: they're now back where they had been in... May 2014.

Yep. More than three years of earnings stagnation. No growth whatsoever, even for "adjusted" earnings. In fact, on a trailing 12-month basi ...

Report: 'Unite the Right' Organizer Jason Kessler Was Obama Supporter Involved With Occupy Movement

Content originally published at

The Market Is Right: Car Stocks Are Cheap for a Reason

In an expensive stock market, car makers are sensationally cheap. Sadly, though, this looks like a rational response.

China Sets Its Banks on Scramble for Funding

A crackdown on a key funding source for banks is bound to cause some lenders to hit regulatory limits.

Margin Pressure Ahead for U.S. Companies

Productivity growth is companies' best weapon against rising costs. Unfortunately for them, it has been extraordinarily weak and is unlikely to get much better.

Are these the smartest (or the cheapest) single men in America?

This is how men take women on dates without spending a dime.

Robots aren't just taking jobs — they're influencing elections

Robots are replacing humans in industrial workplaces, but mostly in the manufacturing hubs of the Midwest and South, suggesting that concerns about the future of the economy may in fact have played a role in the 2016 election.

Futures Movers: U.S. oil moves lower, sets sights 3-week low

Oil prices move lower Monday as concerns over a rise in OPEC crude production help set U.S. prices up for their lowest finish in about three weeks.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

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To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

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